The bioeconomy is an “economy where the basic building blocks for materials, chemicals, and energy are derived from renewable biological resources”. Crucially, the bioeconomy offers opportunities to address climate change challenges, while also achieving economic growth.
Last year, Scotland’s industrial biotechnology sector was worth nearly £750m, with 106 biotechnology companies emerging in eight years. Research indicates that revenue targets will continue to exceed expectations, reaching £900m by the end of 2025.
Scotland is a go-to destination to incubate and grow bioeconomy businesses to scale. Published in March, the Scottish Government’s National Strategy for Economic Transformation highlighted industrial biotechnology as a “key sector for decarbonisation and the transition to net zero, with opportunities for Scotland to become a world leader”.
The week will showcase the country as a key location for investing in the emerging biotechnology industry, a place where entrepreneurs can take biotech ideas from conception to launch, an education destination for those seeking to study and find work in the sector, and a chemical sciences research base consistently ranked within the top three in the world.
Bioeconomy Day in early October will tell Scotland’s story in developing a robust bioeconomy, where from 2019 the number of companies that deploy industrial biotechnology has risen from 111 to 147, an increase of over 30%.
Bioskills Day, which will take place the same week, will illustrate the enormous potential of the bioeconomy and outline the employment and learning opportunities already available in key growth sectors such as biopharmaceuticals, pharmaceuticals, food and drink, consumer products, textiles, construction, marine and agritech.
The week will include celebrations at the Scottish Parliament where we will advocate for our members to local MSPs and seek their backing for the limitless potential of Scotland’s bioeconomy.
Companies already delivering bioeconomy benefits include MiAlgae who harness microalgae, rather than wild-caught fish, as a sustainable source of Omega-3; IndiNature who manufacture bio-based materials for the construction industry and CuanTec who take discarded fish shells destined for waste and transform them into biodegradable and compostable food packaging.
The full programme of interactive events will be published over coming months.
If you or your organisation would like to get involved or support the events, please contact the Industrial Biotechnology Innovation Centre (IBioIC), email email@example.com.